Some Arizona business owners worry the bill, if passed, will scare customers away.

"I'm a businessman in Arizona. I don't want any more black marks on Arizona," said Howard Fleischmann, owner of Community Tire Pros and Auto Repair. "We've got great things here. We've got a great state. Why would we do this?"

Fleischmann said Community Tire Pros and Auto Repair serves people from across the country and the Arizona bill could be off-putting.

"Because it says you're part of that, and we're not," he explained.

Barry Broome, CEO and President of the Greater Phoenix Economic Council, said the legislation is a threat to the region's economy and state's reputation.

"This bill is not looked upon as policy. It's really looked at as something that's forgetting certain classes of people," he said. "We've worked so hard for the last six years to come out of this recession, and we see this bill as nothing more than pandering to extreme political groups. We see it as something that is negative and counterproductive."

Broome urges Brewer to think of the consequences passing a law like this could bring to the state.

“It'll be beyond difficult, if it's signed, and I really fear that it'll target the Super Bowl," Broome said.

Broome said some investments are on hold pending Brewer's decision, and one business has already discontinued service in Phoenix because of the legislation.